Rumors of Apple releasing an iPad 3 this fall have been making the rounds for some time, but a Wall Street analyst says not to expect a successor to iPad 2 until the first quarter of 2012.
Over the course of CY [calendar year] 2011, we believe that iPad 3's launch has been pushed back more than once. We continue to believe that the iPad 3 will be launched in the March 2012 quarter, BMO Capital Markets analyst Keith Bachman, wrote in a note to clients.
Given that the demand remains strong for iPads, Bachman believes it is reasonable to assume that changes for the iPad's production line in the December quarter are actually for the iPad 3 line, rather than the iPad 2.
This may suggest that the iPad 3 launch has changed modestly, although we are not sure on the launch date, Bachman said.
The analyst continues to expect Apple to ship 11 million iPads in the September quarter and 14 million iPads in the December quarter.
iPad 2, the second generation of the iPad series, was launched by Apple in March 2011 and dominates the tablet market. In its third quarter, Apple sold 9.25 million iPads - a jump of 183 percent from last year.